Dh30b invested for national rail
Dh25 billion to Dh30 billion will be invested by the UAE with the aim of creating a strategic, countrywide network of railways spread over 1,100 kilometres.
As per newly appointed chairman of Etihad (Union) Railways Company Hussain Jasem Al Nowais, "The investments in the project will be spread over a period of five to seven years and will be construction linked. These are preliminary estimates. The first tenders will be floated in the first quarter of 2010."
Mr. Hussain Jasem came out with the announcement soon after his appointment by President His Highness Shaikh Khalifa Bin Zayed Al Nahyan through a federal decree.
The board of directors of the Etihad (Union) Railways Company was formed by Decree No 75 of 2009. The decree has predetermined the working term for the board at three years, which would be renewable.
The decree described Mohammad Mattar Al Tayer as the deputy chairman of the board. include Mohammad Saeed Al Danhani, Falah Mohammad Al Ahbabi, Dr Abdullah Bel Haif Al Nuaimi, Dr Nasser Saif Al Mansouri, Abdullah Mohammad Al Zari, Mohammad Hareb Sultan Al Yousuf, and Jamal Majid Bin Theniyah, woud be the other members of the board.
The main focus of the national railways would be on freight and the linking of the UAE with other countries in the Gulf Cooperation Council.
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